market direction has not changed and is still sideways / down , as previously mentioned. Also prior FOMC Sept-20 equities will continue drifting sideways....
Sideways to down trading can be viewed either from start of the year 2005 for the NAZ / NDX and INDU , and from mid August for the main indices VLE / SPX / RUT until today.....
As mentioned before, only a drastic fall in oil prices will most probably change the direction of the equity market in the U.S. Drastic fall in oil prices means at least below $ 60.00
And if the Fed would discontinue increasing interest rates Sept-20, this would be viewed favorably by investors.
Not to forget the present month September, surely the worst month if you look at the statistics :